United Prairie Ag’s credit policy helps the company and its customers do business together.
Credit Policy: Doing Business with United Prairie Ag
The Board of Directors has established a Credit Policy in accordance with the Consumer and Credit Protection Act (Federal Truth in Lending Act, Public Law 90-321: 82 Statute 146) and the Kansas Uniform Consumer Credit Code (K.S.A. 16 (a) 1-101 et seq.).
The company agrees, if this charge account is approved by United Prairie Ag LLC and/or its credit manager it shall allow the credit customer to purchase goods and services on credit by signing the Charge Account Agreement, the credit customer agrees to pay for any goods and services up to an approved limit in accordance with this agreement.
- DUE DATE.
- All purchases made on credit during the month that are reflected on the periodic billing statement for such month are due and payable upon receipt of the billing statements.
- CONVENIENCE CREDIT.
- If the purchases are paid in full before the 25th day of the month following the month of purchase, the account shall not be subject to any FINANCE CHARGE.
- FINANCE CHARGE.
- Any balance not paid before the second billing of any charges shall be subject to a finance charge of twenty one (21) percent per annum on all such unpaid balances. At the Company’s option, this finance charge shall be deemed to have begun accruing from the date of the purchase of the item or service and shall continue to accrue until paid. Unless otherwise agreed, payments shall be applied first to unpaid accrued finance charges and then to the oldest item or service for which payment in full has not been received.”
- TERMINATION OF CREDIT.
- United Prairie Ag LLC reserves the right to terminate credit sales to the customer at any time without prior notification and, in the absence of prior mutually satisfactory arrangements having been made, no additional credit purchases will be allowed to any customer whose account is over 60 days past due.
- CHANGE IN TERMS.
- This agreement may be changed by United Prairie Ag LLC to increase the FINANCE CHARGE, change the due date, change the billing cycle, and change the method of calculating the FINANCE CHARGE or change matters of similar nature within the limitation of the applicable law. Notice of any such change shall be given to the customer in two billing cycles prior to the effective date of change.